US Begins Emergency Oil Reserve Release of 86 Million Barrels


The release, which is expected to take four months to complete, is part of a 400 million barrel effort coordinated with other nations aimed at lowering crude, gasoline, diesel and jet fuel prices that have climbed dramatically since the US-Israel invasion of Iran. The war has brought shipping traffic to a virtual standstill in the Strait of Hormuz, through which roughly a fifth of the world’s oil flows.



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